Bajaj Allianz General Insurance on Monday launched a unique scheme, which covers the expenses for taking second opinion for critical illness.
Insurance companies are anticipating claims of at least Rs 500 crore from the incessant rains and flooding in Chennai.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
General insurers clocked 14.35 per cent growth in business at Rs 7,168 crore (Rs 71.68 billion) till July, despite rise in claims after heavy rain and floods in western India and the fire at ONGC's Bombay High oil field.
The LIC and some PSU general insurers are expected to maintain dominant position in the coming years even in the liberalised scenario, ICRA said in a research report.
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
Tata AIG General Insurance on Tuesday launched a new scheme -- Green Channel Settlement -- to make vehicle accident repairs and claims easier for consumers.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
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In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
General insurer ICICI Lombard has structured the first ever weather insurance cover for a maximum sum insured of Rs 1.5 crore (Rs 15 million) for Gujarat Heavy Chemicals in the event of loss of salt production due to unseasonal rainfall at its Nagapa
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CAG said that Reliance Infocomm and Tata Tele Services Ltd have caused a loss of Rs 184 crore to 3 state-run insurance firms between 2002-05 on risk cover for mobile handsets and default payments.
The National Confederation of General Insurance Officers' Association urged the Finance Minister Jaswant Singh to explore the possibility of setting up a subsidiary health insurance company to manage the health portfolio.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
ICICI Lombard General Insurance on Tuesday launched a travel insurance scheme for students going abroad for higher studies.
General Insurance Corporation plans to tap professional institutions like Indian Institute of Technology and Indian Institute of Management for young managers after cutting flab through a voluntary retirement scheme in the next fiscal.
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